FEATURED ARTICLES ABOUT DHANLAXMI BANK - PAGE 3

NEW DELHI: Dhanlaxmi Bank on Monday said Manoranjan Dash has been appointed as additional director of the bank for two years. "...Reserve Bank of India (RBI) has appointed Manoranjan Dash, General Manager, RBI, Hyderabad, as Additional Director of the bank for a period of two years with effect from May 23, 2013," it said in a filing to the BSE.

NEW DELHI: United Bank of India and Dhanlaxmi Bank top the list of public and private sector lenders with maximum incidence of bad loans. Among the foreign banks, Firstrand Bank had the 'worst' gross Non-performing Assets (NPAs) of 25.93 per cent at the end of September 2014, Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha. "Among the PSU banks, United Bank of India is the worst performer with 10.78 per cent gross NPA ratio," he said, adding that Vijaya Bank with bad loans of 2.85 per cent of total advances was the best performer.

Devang Visaria, Chief Strategist, Devangvisaria.com talks to ET NOW about India Infoline, Dhanlaxmi Bank and Lakshmi Vilas Bank. We are seeing a bit of an activity into India Infoline (at 116) and some of the smaller banks. The likes of Dhanlaxmi up 13-14% in four-five days alone. What are you recommending? On India Infoline, at 118 would be a crucial level on the upside. If it is able to cross 118, you could have a good spike to 130 also. So on a move past 118, you could initiate longs with a stop of closer to 114.5.

MUMBAI: Dhanlaxmi Bank, one of India's fastest growing mid-size private sector banks, has appointed Manish Jaiswal as the Business Head for its Small and Medium Enterprises (SME) Group. Jaiswal will head the bank's SME Business and will be responsible for all trade, advances and credit to small and medium enterprises and will spearhead further growth of the business for Dhanlaxmi Bank. He will realign the existing framework and redefine significant profit centric formulae for the business with focus on cross selling of fee income products and services.

NEW DELHI: Private sector Dhanlaxmi Bank today reported net profit of Rs 3.58 crore for the first quarter ended June 30. The bank had registered a loss of Rs 11.8 crore during the same period of the previous fiscal. Total income of the bank also declined to Rs 338.32 crore from Rs 365.08 crore, Dhanlaxmi Bank said in a filing to the BSE . As of June 30, the bank's portfolio quality deteriorated sharply with gross non-performing assets at 5.78 per cent of gross advances, compared with 1.39 per cent a year earlier.

The board of Dhanlaxmi Bank has appointed Chennai-based auditor PB Vijayraghavan & to conduct an 'expenditure audit'. The process will check whether the bank followed proper procedures regarding expenditures undertaken by the bank in the past three years. The board's contention is that the previous management, under the leadership of Amitabh Chaturvedi, spent enormous amount of money without following proper procedures, which had triggered the departure of Chaturvedi. Between 2009 and 2011, staff expenses rose from Rs 62 crore to Rs 201 crore, operating expense from Rs 49 crore to Rs 143 crore while net profit was down from Rs 57 crore to Rs 26 crore.

NEW DELHI: Shares of Dhanlaxmi Bank Ltd tanked over 20% in trade on Tuesday to touch their 52-week low of Rs 54.40 after AIBOC raised red flag over operations of Dhanlaxmi Bank, reports ET Now. "The All-India Bank Officers Confederation (AIBOC) has alerted the Reserve Bank of India ( RBI ) that the bank has manipulated accounts and provisioning, has a mismatch in asset-liability resources, maintains poor capital adequacy ratio and has huge dependence on call money borrowing," according to the report.

NEW DELHI: Private sector lender Dhanlaxmi Bank today raised base rate, or the minimum lending rate, by 50 basis points to 8.75 per cent in line with other lenders. The base rate will be revised to 8.75 per cent from the current 8.25 per cent effective tomorrow, Dhanlaxmi Bank said in a statement. Base rate is the lending rate below which no loans can be offered. This will make new loans, including housing and auto expensive by at least 50 basis points.

MUMBAI: Dhanlaxmi Bank will acquire a 15 per cent stake in Destimoney Securities for Rs 13 crore to increase the private lender's product offerings to customers by way of providing them online broking services. "We will acquire a 15 per cent stake in Destimoney Securities to provide online broking, a new initiative from our side," the bank's chief financial officer (CFO), Bipin Kabra, said in Mumbai on Thursday. Destimoney Securities is a 100 per cent subsidiary of Destimoney Enterprises, a financial services provider and advisory company owned and controlled by PE firm New Silk Route . The total cost of this stake will be around Rs 13 crore, Kabra said, adding "our retail customers can benefit from Destimoney Securities' online capital market services.